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Rikvin Capital

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Loan provided for redevelopment of Mail Delivery office in London

Commercial banks in the U.K. rarely provide loans for redevelopment projects.

Location London, United Kingdom
Market Value £2,650,000
Loan Amount £1,500,000
Loan-to-Value 55%
Duration of Loan 6 Months
Payment Schedule Balloon + Monthly Interest Payment
Asset Type Commercial Building
Completion Time 10 Days

Problem

  • A corporation had plans to purchase an old mail delivery office for redevelopment.
  • The company needed financing but was unable to obtain it from traditional banks, who rarely lend to redevelopment projects.

Solution

  • Rikvin Capital performed the necessary due diligence and underwriting and found that the property was in a prime location.
  • We were able to provide the loan at 60% LTV for a period of 6 months with a first charge on the property.
  • This enabled the borrower to purchase the property and apply for planning.
  • The borrower later refinanced the property after receiving planning permission.
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Rikvin Capital Pte Ltd (UEN: 201811726Z) is an excluded moneylender under the Moneylenders Act (Cap. 188)

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